On September 23, Shanghai Sci-tech Innovation Center Capital Co., Ltd. (hereinafter referred to as "Shanghai Sci-tech Capital") was formally launched at the Pujiang Innovation Forum.

Shanghai Sci-Tech Capital, as a market-oriented fund platform, is founded according to the plan of the CPC Shanghai Committee and the Shanghai Municipal Government, initiated by Shanghai International Group and also funded by Shanghai Guosheng Group, Shanghai International Trust, Shanghai Port Group, Zhangjiang Hi-Tech and other state-owned cornerstone investors. The planned AUM is 30 billion yuan, and the first phase of fund-raising volume is 6.52 billion yuan. The Shanghai Sci-Tech Capital is expected to promote the national strategy to drive development through innovation and serve for Shanghai`s target to be a Sci-tech Innovation Center, focusing on Shanghai`s major innovation platforms, strategic projects and regions. It will conduct fund investment, supporting the development of high-tech and innovative companies, fostering an innovation-oriented investment ecosystem with Shanghai at the core while influencing neighboring areas, under the spirit of professionalism, market-orientedness and internationalization.

"The establishment of Shanghai Sci-Tech Capital is of great significance in promoting real economy through financial service, comprehensively integrating finance with science and technology, and accelerating of the synergetic development of the financial center and the Sci-tech center."Mr. Zheng Yang, Secretary of CPC Shanghai Financial Work Committee, Director of Shanghai Financial Service Office, made remarks in his delivery as follows: as a municipal-level FOF fund in Shanghai, guided by the municipal government, operated by market-oriented rules, Shanghai Sci-Tech Capital will be centering on Shanghai`s target to be a Sci-tech center, adhering to principles of "led by financial capital, joined by industrial capital and operated with market mechanism", integrating financial and industrial capital through state-owned capital operation platform and building itself to be a highly rule-abiding and efficient investment and financing platform with excellent capability to integrate resources, attract financial capital. By giving play to the secondary enlargement effect of the market-based FOF fund, Shanghai Sci-Tech Capital can further enhance the leading effect of state-owned assets, direct social capital to "shift from virtual economy to real economy", drive various kinds of factors and resources towards science and technology and creative industries.

Fu Fan, President of SIG and Chairman of Shanghai Sci-Tech Capital, presided over the ceremony. Mr. Zhou Bo, member of the Standing Committee of CPC Shanghai Municipal Committee, Executive Vice Mayor of Shanghai, Mr. Shenjun, Chairman of SIG, Mr. Jin Xingming, Deputy Secretary-General of the Shanghai Municipal Government, Secretary of the CPC Shanghai SASAC Committee, Director-General of Shanghai SASAC, Mr. Zhang Weixing, Vice-Director of Resource Allocation and Management Division of Ministry of Science and Technology Department.

The founding ceremony also held a signing ceremony of fund cooperation intention and project cooperation intention. At present, the first batch of intentional projects signed cover such industries as information technology, high-end equipment, new materials, biology and new energy, etc, which are mentioned in the "National Strategic Emerging Industries Development Outlook under the 13th Five-year-plan".

The leaders and guests of the relevant governmental organs and cooperative agencies of the Shanghai Municipal Government, the members of executives and leaders of CPC SIG Committee and heads of SIG`s departments and subsidiaries attended the launching ceremony.